First Trust Municipal High Income ETF (NASDAQ:FMHI) Sets New 12-Month Low – Here’s What Happened

First Trust Municipal High Income ETF (NASDAQ:FMHI) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $46.73 and last traded at $46.85, with a volume of 16372 shares traded. The stock had previously closed at $46.83.

First Trust Municipal High Income ETF Stock Up 0.1%

The company has a fifty day moving average price of $47.80 and a two-hundred day moving average price of $48.00.

First Trust Municipal High Income ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 21st were given a $0.178 dividend. This is a positive change from First Trust Municipal High Income ETF’s previous monthly dividend of $0.18. The ex-dividend date was Friday, August 21st. This represents a c) annualized dividend and a yield of 4.6%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FMHI. AQR Capital Management LLC purchased a new stake in shares of First Trust Municipal High Income ETF in the first quarter valued at about $377,000. Baird Financial Group Inc. increased its position in First Trust Municipal High Income ETF by 7.6% in the 2nd quarter. Baird Financial Group Inc. now owns 6,400 shares of the company’s stock valued at $299,000 after acquiring an additional 450 shares during the period. Jane Street Group LLC raised its stake in First Trust Municipal High Income ETF by 888.7% during the 2nd quarter. Jane Street Group LLC now owns 131,035 shares of the company’s stock valued at $6,119,000 after acquiring an additional 117,782 shares during the last quarter. MML Investors Services LLC raised its stake in First Trust Municipal High Income ETF by 1.4% during the 2nd quarter. MML Investors Services LLC now owns 101,612 shares of the company’s stock valued at $4,745,000 after acquiring an additional 1,414 shares during the last quarter. Finally, Orion Porfolio Solutions LLC lifted its position in First Trust Municipal High Income ETF by 4.7% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 8,184 shares of the company’s stock worth $382,000 after acquiring an additional 365 shares during the period.

First Trust Municipal High Income ETF Company Profile

The First Trust Municipal High Income ETF (FMHI) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed fund that holds a broad range of US municipal bonds. FMHI was launched on Nov 1, 2017 and is managed by First Trust.